Amplitude, Inc. (NASDAQ:AMPL) Short Interest Up 7.5% in November

Amplitude, Inc. (NASDAQ:AMPL - Get Free Report) was the recipient of a significant increase in short interest in November. As of November 30th, there was short interest totalling 1,720,000 shares, an increase of 7.5% from the November 15th total of 1,600,000 shares. Based on an average trading volume of 416,000 shares, the days-to-cover ratio is currently 4.1 days. Currently, 2.3% of the company's stock are short sold.

Amplitude Trading Up 3.2 %

Shares of NASDAQ:AMPL traded up $0.37 during midday trading on Friday, reaching $11.76. The company had a trading volume of 639,392 shares, compared to its average volume of 508,951. The stock has a market cap of $1.11 billion, a P/E ratio of -17.55 and a beta of 1.38. The company's 50 day moving average price is $9.89 and its 200 day moving average price is $9.02. Amplitude has a 52-week low of $7.37 and a 52-week high of $14.42.

Insider Transactions at Amplitude

In other news, Director Eric Vishria sold 25,000 shares of Amplitude stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $10.18, for a total transaction of $254,500.00. Following the completion of the transaction, the director now directly owns 286,208 shares in the company, valued at $2,913,597.44. This trade represents a 8.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.80% of the stock is owned by insiders.

Institutional Trading of Amplitude

Hedge funds have recently added to or reduced their stakes in the stock. ArrowMark Colorado Holdings LLC increased its stake in shares of Amplitude by 56.6% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,482,738 shares of the company's stock worth $13,300,000 after purchasing an additional 535,624 shares during the last quarter. Cerity Partners LLC increased its position in Amplitude by 524.9% in the third quarter. Cerity Partners LLC now owns 460,624 shares of the company's stock worth $4,132,000 after buying an additional 386,915 shares during the last quarter. Horrell Capital Management Inc. bought a new stake in shares of Amplitude in the third quarter valued at $1,597,000. Circumference Group LLC purchased a new position in shares of Amplitude during the 3rd quarter valued at $1,597,000. Finally, Geode Capital Management LLC lifted its position in shares of Amplitude by 7.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,903,531 shares of the company's stock valued at $17,078,000 after buying an additional 126,056 shares during the last quarter. Institutional investors own 73.20% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Piper Sandler boosted their price objective on Amplitude from $9.00 to $11.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. KeyCorp upgraded Amplitude from a "sector weight" rating to an "overweight" rating and set a $15.00 price target for the company in a report on Friday. Scotiabank raised their price objective on Amplitude from $10.00 to $12.00 and gave the company a "sector perform" rating in a research note on Friday, November 8th. Finally, Robert W. Baird upped their target price on shares of Amplitude from $10.00 to $12.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Amplitude currently has an average rating of "Hold" and an average target price of $11.57.

About Amplitude

Amplitude, Inc, together with its subsidiaries, provides a digital analytics platform that analyzes customer behavior in the United States and internationally. It offers Amplitude Analytics, which provides real-time product data and reconstructed user visits; Amplitude Experiment, a solution that allows teams to test new capabilities and safely roll out new features; Amplitude CDP, an insight-driven solution that encompasses the data infrastructure, audience management, and data streaming capabilities; and Amplitude Session Replay used by product, marketing, and data teams to understand user behavior, diagnose product issues, and improve product outcomes.